A member of Congress dipped her toes into crypto — and likely took a big hit

Tulsi Gabbard

  • US Representative Tulsi Gabbard of Hawaii bought ethereum and litecoin in December 2017, a financial filing shows 
  • Even if the Democrat bought the coins at their lowest prices of the month, she would still be well in the red today.
  • Watch  ethereum and litecoin trade in real time here.

Another US congressperson has disclosed cryptocurrency holdings.

According to a financial filing released Wednesday, the Democrat from Hawaii's 2nd district bought between $1,001 and $15,000 of both ethereum and litecoin in December of 2017. And while it's not clear the exact amounts purchased or the dates, its highly improbable the representative made a profit.

Even if Gabbard bought the digital coins lowest prices of December — $414 for ethereum and $83 for litecoin — she would have been in the red as of the disclosure's August 14 filing date, given the coins' respective prices of $278 and $54.56 on that day. That's a 33% drop for both cryptocurrencies from their lowest prices of December. 

Gabbard's office did not respond to a request for comment from Business Insider.

Bob Goodlatte, a Republican from Virginia, made headlines for being the first member to disclose crypto holdings last year.

The entire cryptocurrency market has gotten whacked since January, when the craze surrounding the nascent industry was nearing its peak. The flagship bitcoin has declined by 52% this year after hitting a peak of $19,843 shortly after the new year.

Ethereum price

SEE ALSO: This startup is giving away free bitcoin when you make online purchases — Here's how to get in on it

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A member of Congress dipped her toes into crypto — and likely took a big hit A member of Congress dipped her toes into crypto — and likely took a big hit Reviewed by mimisabreena on Thursday, August 23, 2018 Rating: 5

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